Allotment of 8,65,000 Equity Shares of Face valve of Rs. 1 each pursuant to Deccan Gold Mines Stock Incentice Plan 2024.
DECNGOLD · price
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Deccan Gold Mines allotted 8,65,000 equity shares to employees who exercised their stock options under the company's Stock Incentive Plan 2024. Each share has a face value of ₹1 and was allotted at an exercise price of ₹20 per share (₹1 face value + ₹19 premium), bringing in ₹1.73 crore to the company. The paid-up share capital has increased from 19,69,51,715 to 19,78,16,715 equity shares. Out of 50,50,000 stock options granted so far, 8,65,000 have now been exercised, with no options lapsed. The new shares will rank equally with existing shares and are listed on BSE.
This is a routine ESOP allotment that results in a minor dilution of around 0.44% for existing shareholders. The company benefits by receiving ₹1.73 crore in fresh capital at a healthy premium over face value. No material impact on stock price is expected, though it reflects the company actively using stock-based incentives to reward employees.